EconPapers    
Economics at your fingertips  
 

Understanding Asset Prices

Nobel Prize Committee
Additional contact information
Nobel Prize Committee: Nobel Prize Committee

No 2013-1, Nobel Prize in Economics documents from Nobel Prize Committee

Abstract: The behavior of asset prices is essential for many important decisions, not only for professional investors but also for most people in their daily life. The choice between saving in the form of cash, bank deposits or stocks, or perhaps a single-family house, depends on what one thinks of the risks and returns associated with these different forms of saving. Asset prices are also of fundamental importance for the macroeconomy because they provide crucial information for key economic decisions regarding physical investments and consumption. While prices of financial assets often seem to reflect fundamental values, history provides striking examples to the contrary, in events commonly labeled bubbles and crashes. Mispricing of assets may contribute to financial crises and, as the recent recession illustrates, such crises can damage the overall economy. Given the fundamental role of asset prices in many decisions, what can be said about their determinants?

Keywords: asset prices (search for similar items in EconPapers)
JEL-codes: G12 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fmk and nep-his
Date: 2013-10-14
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.nobelprize.org/nobel_prizes/economic-sc ... omicsciences2013.pdf Full text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/advanced-economicsciences2013.pdf [302 Moved Temporarily]--> https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/advanced-economicsciences2013.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:nobelp:2013_001

Access Statistics for this paper

More papers in Nobel Prize in Economics documents from Nobel Prize Committee
Bibliographic data for series maintained by Christian Zimmermann ().

 
Page updated 2019-07-20
Handle: RePEc:ris:nobelp:2013_001